Business

The best-run companies have leaders willing to take a stand on societal issues such as gun control, former Medtronic chairman and CEO Bill George told CNBC on Friday. “If your only purpose is making money, then you’re going to run into … difficulties,” said George, a senior fellow at Harvard Business School where he teaches
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California’s agriculture industry already faces a farm labor shortage, but now it’s facing added pressure due to a wave of employee audits ordered for large farms throughout the state’s Central Valley. Up to 10 agribusiness employers in the state’s San Joaquin Valley were recently contacted by the U.S. Immigration and Customs Enforcement about notices of
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Former General Electric boss Jeff Immelt was consistently overoptimistic in running the large conglomerate during his 16-year tenure, The Wall Street Journal reported Wednesday. More than a dozen insiders — including both investors and current and former GE executives — told the paper Immelt would project results for the company’s future mismatched with its reality.
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Priceline Group renamed itself to Booking Holdings Inc. on Wednesday to better reflect its growing portfolio of brands and highlight booking.com, the underlying driver of its business, according to CEO Glenn Fogel. Fogel told CNBC that booking.com has more than 1.5 million properties and generates more than 1 million bookings per day. “It helps change
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The original 12-member deal was thrown into limbo early last year when U.S. President Donald Trump withdrew from the agreement to prioritize protecting U.S. jobs. The 11 remaining nations, led by Japan, finalized a revised trade pact in January, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It is expected to be signed
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President Donald Trump announced Tuesday that he has recommended that “bump stocks” — devices that let semi-automatic weapons fire hundreds of rounds per minute — be banned. Trump signed a memorandum recommending that Attorney General Jeff Sessions propose regulations that would declare that bump stocks are illegal because they effectively turn legal semi-automatic weapons into
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HSBC’s fortune turned around in 2017 with an increase in the year’s profit. The bank, largest in Europe by assets, said Tuesday its full-year profit before tax rose 10.9 percent to $20.99 billion after adjusting for foreign currency translation and one-off items. That’s beating an estimated $19.67 billion by Reuters and reversing the decline seen
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South Korean President Moon Jae-in said on Monday General Motors Co’s (GM) decision to shut down a factory south of Seoul will hurt that region, and called upon his administration to take measures to boost economic activity there. GM announced last week it will shutter the plant in the city of Gunsan, in South Korea’s
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Tencent also bought a stake in Yonghui Superstores Co Ltd, apparel retailers Vipshop Holdings Ltd and Heilan Home, mall operator Wanda Commercial, and this month snagged a strategic tie-up with grocer Bubugao. In the other corner is Alibaba, which has invested even more heavily in Suning.com>, Intime Retail, Sanjiang Shopping Club, Lianhua Supermarket, Wanda Film
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Japan’s exports grew in January for a 14th straight month led by brisk shipments of China-bound hybrid cars and electronics parts, a sign solid global demand for Japanese goods continued to underpin growth in the world’s third largest economy. Ministry of Finance (MOF) data showed on Monday that exports grew 12.2 percent in January from
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For better or worse, new eateries and the attention they attract have turned the restaurant business into a boom town, restaurateur David Chang told CNBC in a recent interview. Chang, who owns 23 restaurants around the globe in such cities as New York City, Los Angeles, Sydney and Toronto, recalled a time when it wasn’t
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The federal government’s immigration crackdown in California widened Friday with the announcement that a five-day sweep led to the arrest of 212 undocumented immigrants and the targeting of 122 businesses in Southern California. The action comes on the heels of raids in Northern California targeting undocumented immigrant workers. The Trump administration’s clampdown on illegal immigration
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